Telford and Wrekin one of UK's most popular areas for new-build sales
Despite mortgage rates hitting a 15-year high and property prices falling, one Shropshire borough is among the fastest growing in the UK for sales of new-builds.
According to Plan A Insurance, which has analysed Office for National Statistics figures for the sales of new-builds in small areas of England, nearly nine per cent of the homes sold in Telford and Wrekin last year were new-builds.
The figures put the borough significantly above the national average for the amount of new-builds making up property sales – with just 2.83 per cent of the 665,279 homes sold across England in 2022, being fresh homes.
For Telford and Wrekin there were 2,085 homes sold last year – with 182 of those being new-builds, equating to 8.73 per cent of all sales.
The figures put the borough in seventh place on the list.
The top spot went to Tower Hamlets, in London,where 24.54 per cent of the 2,706 homes sold were new-builds.
A spokesman from A-Plan Insurance said: “Approximately 18,841 newly built properties were sold throughout all of England’s small areas in 2022. Developers provide homes of all shapes and sizes for prospective buyers, from detached, semi-detached and terraced houses to flats and maisonettes.
“As families and individuals continue to struggle with the weight of the cost-of-living and increasing mortgage rates, it is promising to see that some of the country’s less populated areas continue to thrive with the sales of new homes at a great rate.”
The firm's review of Telford and Wrekin described it as "an increasingly popular choice for homeowners".
The most recent figures show that more homes were built in the borough in 2021/22 than in more than 10 years.
During the year there were 1,350 homes completed in the borough, well over the previous highest of 1,110 in 2016/17.
